Citi: No Plan to Sell Core Ops in Japan

TOKYO — Nikko Citi Holdings Inc. said Tuesday it has no plan to sell any of its core operations in Japan, including brokerage units such as Nikko Cordial Securities and Nikko Citigroup.

The holding company for Citigroup Inc.'s Japanese operations said in a statement the U.S. bank remains strongly committed to the Japanese market and it will continue to offer services based on the universal banking business model.

While Nikko Citi has so far declined to comment on media reports that it plans to sell a trust banking unit, other reports have included the possibility of sales of other group companies.